While investing comes with certain risks, investors should be able to rely on the professional competence and basic ethical integrity of the broker and brokerage firm. If you sustained losses because of fraud, misrepresentation, portfolio mismanagement, or serious professional misconduct, you may be entitled to monetary compensation for your losses.
Galvin Legal, PLLC’s experienced Chicago securities fraud and investment fraud attorneys are committed to protecting the legal rights and financial interests of investors. We have helped many investment fraud victims nationwide recover losses. Even when an investor lives in Chicago, Illinois, the claim must generally be filed through the Dispute Resolution division of FINRA. Investors are far more likely to recover their losses if they are represented by an attorney who is experienced in securities arbitration. If you think you may be a victim of investment fraud, please contact us today to set up your free investment fraud consultation. Galvin Legal, PLLC represents investors in every state across the nation.
The Most Common Broker Misconduct and Securities Fraud Claims
Securities fraud and stockbroker misconduct come in many different forms. Our Chicago investment fraud lawyer is prepared to handle the full range of investor losses claims. Some common examples of cases we handle include:
- Breach of Fiduciary Duty: Certain financial professionals have a duty to act in the best interests of their clients. If you sustained investment losses because a financial advisor breached their fiduciary duty, you may be entitled to compensation.
- Unsuitable Investment Recommendations: Brokers must make trades and offer investment advice that is reasonably suitable for their client. If losses are sustained because of unsuitable investment recommendations, the broker can be held liable.
- Fraud Through Misrepresentation: All financial professionals should offer good faith, accurate, and honest information to their clients. Brokers can be held liable for losses suffered due to material misrepresentations or material omissions of fact.
- Overconcentration of Assets: A smart portfolio is a well-diversified portfolio. If you lost money due to the negligent overconcentration of assets, you may have a valid legal claim.
- Excessive Trading: When brokers make too many trades, they can cost investors a lot of money in the form of commissions and fees. Excessive trading (churning) is a common form of financial advisor misconduct.
- Lack of Supervision: All brokerage firms are legally responsible for the actions or inactions of their brokers and other associated persons. If you lost money because your brokerage firm failed to adequately supervise your account, compensation may be available.
Investor Losses Claims in Chicago: The FINRA Arbitration Process
When you open up a brokerage account or sign up with a financial advisor, you typically sign a customer agreement that requires you to resolve all disputes against the broker through the FINRA arbitrationprocess. Even if you have a claim in Chicago, you must still go before a FINRA arbitration panel. As these claims are complicated, it is crucial that you get an experienced Chicago securities fraud lawyer by your side as soon as possible.
Contact Our Chicago, IL Investment Fraud Lawyer Today
At Galvin Legal, PLLC, our Chicago securities fraud attorney is a relentless advocate for investors. If you sustained major losses in Cook County, IL, you may have a fraud or broker negligence claim. To get a free, no obligation review of your case, please call our legal team at 1-888-637-5518.